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Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It continues to this day as the effects of the disaster ripple through local communities and the shipping industry.
As most of us are aware, Vale is the world’s largest producer of iron ore, and runs several deep-draft ports in Brazil as well as Indonesia, Malaysia and Oman, equipped to receive Valemax ships, the biggest mineral vessels in the world, with capacity for 400,000 tonnes of ore. The company charters Capesizes and Very Large Ore Carriers (VLOCs) and its fleet primarily services the Asian energy needs.
This is actually the second dam collapse incident Vale saw in less than four years. Back in 2015 a larger dam, Samarco Mineracao SA, a joint venture between Vale and BHP, collapsed claiming the lives of 19 people and creating a major environmental disaster. So coming just a few years after a similar disaster in the same state, the Brumadinho collapse enraged many in Brazil, particularly when everyone found out that Vale had earlier received warnings about its fragile state.
The crisis at Vale is already rippling worldwide with strong effects on the iron ore markets and the Capesize segment. The price of iron ore last week surpassed $90 a tonne amid concerns that the closure of Vale’s dams could provoke a supply crunch. The company itself said it would sell a maximum of 330m tonnes of the raw material this year. Last year Vale produced 380m tonnes.
Tailings dams are cheap and obviously risky. The upstream sort have been banned in Chile and are very rare in America and Europe. Their widespread use in Brazil is one way the government helps mining firms. Miners such as Vale in particular, are obviously favoured because they often shoulder the responsibilities of governments in remote places, building schools and hospitals, for example. In Minas Gerais (literally, “General Mines”), the state where Brumadinho is located, Vale often dominates local economies as we can all understand.
This disaster weighed heavily on the market for big Capes, with still a lot of uncertainty about shipments/future exports leading to a sharp drop in rates. The miners had largely been absent from the market recently, with just a handful of other player in the region with large iron ore cargoes to move. Rates are expected to still experience a significant pressure moving forward. It is quite a unique situation and it is interesting to see it’s future dynamics in the Capesize sector.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
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- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
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